MUMBAI - HDFC Bank Limited has welcomed V. Srinivasa Rangan as its new Executive Director, following approval from the Reserve Bank of India (RBI) for a three-year term that commenced on Wednesday. A seasoned professional with a University of Delhi Commerce degree and an Associate of the Institute of Chartered Accountants of India (ICAI), Rangan brings a wealth of experience in finance, legal compliance, and strategic planning to his new role.
Prior to his appointment at HDFC Bank, Rangan made significant contributions as the Executive Director and Chief Financial Officer at Housing Development Finance Corporation Limited. His international experience is marked by housing finance projects in Ghana and the Maldives. Rangan's expertise also extends to his active involvement with RBI's committees focused on Asset Securitisation and Mortgage Backed Securitisation, as well as the National Housing Bank's (NHB) Technical Group that aims to establish a Secondary Mortgage Market Institution.
Additionally, he served on NHB’s Working Groups that tackled strategies for Covered Bonds and Credit Enhancement Mechanisms. Rangan's accomplishments have been recognized by the industry, earning him accolades such as ICAI’s “Best CFO in the Financial Sector for 2010” and a “Lifetime Achievement Award” from the Financial Express CFO Awards in 2023.
The formalization of Rangan's appointment is pending a board meeting. Meanwhile, shares of HDFC Bank Limited experienced fluctuations between ₹1523.70 and ₹1509 with a net turnover of ₹21,48,97,885 on Thursday, just before the announcement of his new position.
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